Examlex
Thorndike was known for his work with:
Disposition
The act of transferring or disposing of an asset or property, or the manner in which someone is inclined to behave or feel.
Collateral
Assets pledged by a borrower to secure a loan or other credit, which the lender can seize if the borrower defaults.
PMSI
Purchase Money Security Interest, a legal claim that allows a lender to repossess or foreclose on property if the borrower defaults, specifically when the loan was used to purchase the property.
Priority Rule
A principle in law that determines the precedence of claims, rights, or interests in order to resolve conflicts between parties.
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